This word was traditionally brought into use in foxhunting, it was used when one person from the hunt saw a fox, and he would shout this word to indicate to the others in the hunt that a fox had been spotted. It then came into use in World War II when pilots of the Royal Air Force saw enemy aircraft.
Air Traffic Control: Bandits, to the south east, around 5 mile range.
Pilot: Tallyho old chap!
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